Income Tax : Analysis of essential direct tax law features: clarity, competitive rates, and the use of GAAR. Covers corporate tax choices, AIS/...
Income Tax : Explore the clash between India's GAAR and DTAAs, examining how domestic anti-avoidance provisions interact with international tax...
Income Tax : Explore legal strategies used in tax avoidance in UK, including judicial doctrines, TAARs, GAARs, DOTAS, and the role of HMRC. Lea...
Income Tax : Learn about tackling tax avoidance in the UK with the Ramsay doctrine and GAAR. Explore their implications and effectiveness in co...
Income Tax : Explore the doctrine of substance over form in taxation, its accounting and taxation concepts, applications, examples, limitations...
Income Tax : Tax Audit Report (Form 3CD- Applicability of Clause 30C & Clause 44 deferred till March 31, 2021 Central Board of Direct T...
Goods and Services Tax : A. CBIC has released 2 sets of FAQ on Real Estate on new GST Rate Structure: There has been number of issues reported by various s...
Income Tax : The Government has not held any consultation regarding taxation of digital businesses as such. However, to address the challenges ...
Income Tax : Implementation Guide w.r.t. Notification No. 33/2018 dated 20.07.2018 effective from 20.08.2018 – (23-08-2018) The Central...
Income Tax : ICAI vide its representation suggested CBDT to that changes made in Form No. 3CD be implemented from AY 2019-20 for smooth impleme...
Income Tax : Explore the Ayodhya Rami Reddy Alla vs PCIT case, delving into GAAR vs SAAR implications. Understand the Telangana High Court's ru...
Income Tax : ABSA Bank Limited Vs Commissioner, South African Revenue Service (High Court of South Africa) FULL TEXT OF THE JUDGMENT/ORDER of S...
Income Tax : Income Tax Circular No. 10/2020-Income -Regarding reporting requirement under clause 30C and clause 44 of the Form 3CD defers GST ...
Income Tax : Reporting requirements under clause 30C (pertaining to General Anti-Avoidance Rules (GAAR)) and clause 44 (pertaining to Goods and...
Income Tax : Representations have been received by the Board that the implementation of reporting requirements under the proposed clause 30C (p...
Income Tax : Question no. 1: Will GAAR be invoked if SAAR applies? Answer: It is internationally accepted that specific anti avoidance provisio...
Income Tax : Application of General Anti Avoidance Rule- 10U. Chapter X-A not to apply in certain cases.—(1) The provisions of Chapter X-A sh...
Income Tax Circular No. 10/2020-Income -Regarding reporting requirement under clause 30C and clause 44 of the Form 3CD defers GST & GAAR Reporting in amended Income Tax Audit Report amidst Covid-19. Income Tax Circular No. 10/2020 F.No. 370142/9/2018-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes TPL Division **** […]
Tax Avoidance is one of the major concerns across the world. Different countries framed different rules to minimise such tax avoidance. Such rules in simple terms are known as General Anti-Avoidance Rule (GAAR). Thus GAAR is nothing but the set of rules ratified so as to check the avoidance of tax.
This article is all about General Anti Avoidance rules (GAAR). These rules come into effect when any transactions are undertaken by being within the provisions of the Income tax Act but the sole purpose of such transaction is to avoid tax. So in order to develop the better understanding about our current topic, let us […]
A. CBIC has released 2 sets of FAQ on Real Estate on new GST Rate Structure: There has been number of issues reported by various stake holders on the new GST Rate Structure for Real Estate Sector. Considering the issues, CBIC has issued compilation of 2 sets of FAQ for the guidance and easy understanding […]
Reporting requirements under clause 30C (pertaining to General Anti-Avoidance Rules (GAAR)) and clause 44 (pertaining to Goods and Services Tax (GST) compliance) of the Form No. 3CD is been kept in abeyance till 31st March, 2020. Circular No. 09/2019-Income Tax F. No. 370142/9/2018-TPL Government of India Ministry of Finance Department of Revenue Central Board of […]
The Government has not held any consultation regarding taxation of digital businesses as such. However, to address the challenges posed by the enterprises who conduct their business through digital means and carry-out activities in the country remotely, the following measures have been taken:
Tax payers want to reduce their tax liability through various means available to them. It may take the form of tax planning, aggressive tax planning or tax avoidance. There has always been a tussle between taxing authorities and tax payers when there is aggressive tax planning or tax avoidance
Implementation Guide w.r.t. Notification No. 33/2018 dated 20.07.2018 effective from 20.08.2018 – (23-08-2018) The Central Board of Direct Taxes, vide Notification No. 33/2018/F No. 370142/9/2018-TPL dated 20th July 2018, notified amendments to Form No. 3CD enhancing substantially the reporting requirements and the role of tax auditor as various new clauses/sub clauses have been inserted, major […]
It is submitted that Since Form 3CD (an annexure to Form 3CA) is merely verified by the tax auditor, it cannot be continually amended so as to stretch the role of the tax audit professional to that of an investigator who passes value judgments on matters like impermissible avoidance arrangements and income chargeable to tax under section 56(2)(x) of the Income-tax Act, 1961 (‘ITA’).
Discussion on Circular No. 6/2018 on Tax Audit Report for deferment of Clause 30C and 44 CBDT have issued a circular no. 6/2018 dated 17 August 2018 in relation to the Tax Audit Report to be furnished under section 44AB of the Income Tax Act, 1961 (‘the Act’) read with Rule 6G of the Income […]
